As long as you don't do a Ph.D. with the assumption that you will get a permanent academic job, i.e., faculty at a university. I don't really think it's the sa

As long as you don't do a Ph.D. with the assumption that you will get a permanent academic job, i.e., faculty at a university. I don't really think it's the salary of a permanent academic job that people complain about, it's the fact that in most fields, the number of such jobs is far surpassed by the number of Ph.D.'s produced. When you realize that "not that much money" means "postdoc kind of not-that-much-money", then the outlook changes.